Gratuity For Pvt Ltd Employees

Hi all,
Ours is a Pvt Ltd company employing less than 10 persons. One Director after 21 years is retiring.
Is Gratuity is applicable to him?
If so how to calculate?
reply
Arun

Dear Arun,
As per your brief the Act itself is not applicable to your company. For further details you may go through section 1 of the Payment of Gratuity Act, 1972.
With Regards,
R.N.Khola

i also want to know that which acts are applicable to a pvt ltd company, particularly a automobile dealership employing 150 employees

i understand that the amended gratuity bill would be effective from immediate effect while as central govt. employees have been paid gratuity wef 01/01/2006.why this disparity?rnarora

Hi,
We are a pvt ltd company with 4 employees registerd under shops and establishment in Mumbai.wanted to know whether my staff s applicable for gratuity if they ave completed 27 years f service

No the company is not eligible for gratuity.
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Hi deepa thanks for the information, would like to know that is there any component to be given to the employees when they leave after 27 years.. We have been giving them a net salary deducting nothing . so what are the basis on which compensation is calculated under the Bombay Shops & Establishment Act.